MIGRATED TO http://wavelet.asia/customer-portal/2011/02/28/create-supplier-credit-memo/ Credit memo can consist of credit note or debit note. A credit note is
created for suppliers to record an amount owing due to purchase of
goods from suppliers. On the other hand, a debit note issued to
suppliers indicate that the supplier is owing the user company,
possibly due to return of goods to suppliers.
- Supplier > Credit Memo > Create
- Enter a Credit Memo PKID and select an option.
- Click 'Submit'.
- Select a Branch and click 'Change'.
- Search a Supplier by clicking on 'Select'.
- Enter a foreign currency (or RM) and amount in the appropriate box. Then, click 'Set Foreign Currency'.
- Enter 'Other Details' such as, Reference number, Remarks, Date and click 'Set Details'.
- Enter a GL Code, remarks and an amount in Debit or Credit side. Then click 'Add Item'.
- Multiple items can be added into the same transaction.
- Click 'Remove' to delete the item.
- Finally, click 'Confirm and Save'.
 - As can be seen in the Blue box above, Credit Note:833.00 shows what is owed to the supplier.
- Initially,
| | Debit | Credit | Inventory (Teddy Bear)
| 888 | | Accounts Payable
| | 888 |
- Inventory Bunny Toy was returned to supplier because the goods were damaged.
| | Debit | Credit | Accounts Payable
| 55 | | Inventory (Bunny Toy)
| | 55 |
- Therefore, the Accounts Payable will be offset and the amount payable to supplier is RM 833.00.
| | Debit | Credit | Inventory (Teddy Bear)
| 888 | | Inventory (Bunny Toy)
| | 55 | Accounts Payable
| | 833 |
| 
